Thursday, April 15, 2010

Former banker gets death sentence

BEIJING - Wang Yi, former vice president of the China Development Bank, was sentenced to death with a two-year reprieve here on Thursday for taking bribes. Wang, 54, was found to have abused his power when serving as vice president of the bank to make profits for others in return for bribes totaling 11.96 million yuan (about $1.76 million) from November 1999 to February 2008.

He was also deprived of his political rights for life and had all of his personal assets confiscated, according to the Beijing No. 1 Intermediate People's Court.

In February last year, Wang was removed from his post and the Communist Party of China (CPC) Central Commission for Discipline Inspection, the ruling party's internal anti-graft body, stripped him of his CPC membership for "severe violation of discipline and the law."

I guess this Communist Party stuff of China sees rules and regulations as a part of the job description and lack of honesty and integrity in one's job has consequences......... heads will roll??